Law firm Shoosmiths has taken 32,900 sq ft at Birmingham’s 103 Colmore Row, marking the largest letting to date for the landmark tower – which has reached practical completion – and brings the total office space pre-let or under offer to 60%.
Shoosmiths, whose 300 legal advisers and support staff are currently based at Two Colmore Square, will relocate to 103 Colmore Row after agreeing a 15-year lease on the 11th, 12th and 20th floors, with joint venture partners Sterling Property Ventures and Tristan Capital Partners’ EPISO 4 Fund.
It follows several deals struck with new occupiers throughout 2021, including business advisory firm Grant Thornton, wealth management and financial advisers Tilney Smith & Williamson and flexible workspace operator x+why.
Alex Bishop, partner and co-head of Shoosmiths’ Birmingham office said: “We are thrilled to have signed a lease for 103 Colmore Row. Birmingham is an exciting city right now and we feel that this stunning, state-of-the-art building reflects the innovative and client-focused nature of our business as well as offering us the flexibility for hybrid working in the years to come.”
Beth McArdle, partner and co-head of the Birmingham office, added: “As an ambitious and growing firm we are very much looking forward to curating a new destination office space perfect for a hybrid environment where clients and colleagues can do business – and in that process, we will seek to use as many local businesses as possible for the fit out.”
103 Colmore Row comprises 223,631 sq ft of BREEAM ‘Excellent’ Grade A office space, high-quality amenity spaces – including a two-storey, top-floor restaurant and ground floor café operated by D&D London, its first offering in Birmingham – as well as a range of technological innovations.
James Howarth, managing director at Sterling Property Ventures, said: “The exceptionally strong level of interest in 103 Colmore Row proves that a flight-to-quality is well underway in Birmingham. Since the outbreak of Covid-19, businesses are continuing to take stock of their workplace arrangements and are increasingly looking to Grade A schemes like 103 Colmore Row to help them better compete in an intensifying war for talent.
“There remains significant demand for high-quality office space and our own research informs us that employers and employees alike still place enormous value on being able to access a workplace.”
Paul Pritchard, director at Tristan Capital Partners, added: “Offices continue to adapt and evolve around the ever-changing needs of occupiers, who expect high quality space and a host of inclusive amenities – while also being connected to major transport hubs and close to restaurants, cafes, shops and more.
“The leasing success we’ve achieved, despite the challenges impacting the office market as a result of the pandemic, is testament to the quality of the workspace being provided at 103 Colmore Row.”
103 Colmore Row will be the first commercial office building in Birmingham’s Central Business District to link up with Birmingham’s low-carbon District Energy Scheme. The scheme has also been awarded an EPC A rating, meaning it is one of the most energy-efficient commercial office buildings in both Birmingham and the UK.
Office space at 103 Colmore Row is being marketed by Cushman & Wakefield, Colliers International and Knight Frank.